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How to Build a Candidate Pipeline That Cuts Your Cost and Time to Hire

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Summary

This article explains how to build a successful candidate pipeline that cuts cost and time to hire. It outlines nine steps, including building a standout employer brand, focusing on hard-to-fill roles, setting clear and realistic targets, sourcing from a variety of platforms, having a diverse slate of candidates, balancing internal and external candidates, having a source of truth to keep everyone on the same page, engaging the pipeline and staying in touch, and measuring progress and adjusting strategy. It also includes tips for making meaningful connections with candidates and incentivizing referrals.

Q&As

What is candidate pipelining and how can it help a team's productivity and reduce cost and time to hire?
Candidate pipelining is a proactive approach to recruiting that helps talent professionals think beyond the current req alone and puts them in a better position to be strategic advisors to their company. It also makes it easier to hire for hard-to-fill roles, boost a team’s productivity, and reduce cost and time to hire.

What strategies should a team use to source qualified candidates for their pipeline?
Teams should source qualified candidates for their pipeline using LinkedIn, networking events, and referrals. They should also look into their applicant tracking system (ATS) for previous applicants, and build a referral program to encourage employees to make referrals.

How can teams ensure their pipelines reflect the diversity of their talent pool?
To diversify their pipeline, teams should source from schools that have focused more on students from historically marginalized communities. They should also send members of their team who are from historically marginalized communities to engage with candidates, and lean on their employee resource groups (ERGs) to make referrals.

What are the best metrics to measure the success of the pipeline?
Metrics like the number of candidates engaged, the ratio of submittals to interviews, and offer acceptance rate are good metrics to measure the success of the pipeline.

How can teams balance the breakdown of internal and external candidates in their pipeline?
Teams should balance their pipeline between internal and external candidates and focus on finding the best person for the job, regardless of where they come from. They should also incentivize referrals to encourage employees to make referrals, and provide training around referrals to help employees understand what makes for a good hire.

AI Comments

👍 This article provides a comprehensive and insightful look into how to build a successful candidate pipeline. It offers helpful tips and methods for staying organized and efficient when recruiting talent.

👎 The article does not provide enough real-life examples to help readers understand how to apply the tips and methods discussed. Additionally, the article does not cover enough information on how to use technology to improve candidate pipelining.

AI Discussion

Me: It's about how to build a candidate pipeline that cuts your cost and time to hire. It talks about the importance of employer brand, setting clear and realistic targets, sourcing qualified candidates, making sure your pipeline has a diverse slate of candidates, engaging your pipeline and staying in touch to keep candidates warm, having a source of truth, and measuring progress and adjusting your strategy.

Friend: Interesting. What are the implications of this article?

Me: Well, by using a candidate pipeline, companies can be more proactive in their recruiting and save both time and money. It also helps them to stay competitive in today's market. Additionally, it helps companies to build a diverse pipeline of candidates, which is essential for creating an inclusive workplace. Finally, it helps them to measure their progress and make necessary adjustments to their strategy.

Action items

Create a plan to build a standout employer brand that will attract the right candidates for your company.
Set clear and realistic targets for your team based on real data.
Develop a diversified sourcing strategy that includes LinkedIn, networking events, referrals, and internal candidates.

Technical terms

Sourcing: The process of finding and attracting potential candidates for a job opening.
Pipelining: A proactive approach to recruiting that involves building relationships with potential candidates and keeping them engaged for future job openings.
Employer Brand: The reputation of a company as an employer, based on factors such as the company’s values, culture, and benefits.
Boolean Strings: A search query used to find specific information in a database.
Historically Black Colleges and Universities (HBCUs): Institutions of higher education in the United States that were established before 1964 with the intention of primarily serving the African American community.
Hispanic-Serving Institutions (HSIs): Institutions of higher education in the United States that have a student body that is at least 25% Hispanic.
Tribal Colleges and Universities (TCUs): Institutions of higher education in the United States that are owned and operated by a Native American tribe.
Women’s Colleges: Institutions of higher education in the United States that are exclusively for women.
Applicant Tracking System (ATS): A software application used to manage the recruitment process, from job postings to applicant tracking to hiring.
Employee Resource Groups (ERGs): Groups of employees within a company who share a common identity or experience, such as gender, race, or sexual orientation.
Referral Program: A program in which employees are rewarded for referring qualified candidates for job openings.
Lateral Move: A job change in which an employee moves to a different role within the same company.
Spotlights: A feature in LinkedIn Recruiter that allows recruiters to see if a candidate has previously engaged with their company or knows one of their employees.